19 April 2018 Insurance

Allstate faces $361m cat losses in Q1, 2018

US personal lines insurer Allstate Corporation estimated catastrophe losses at $361 million, pre-tax, and $285 million after-tax, for the first quarter 2018.

In March alone, Allstate estimated catastrophe losses at $222 million, pre-tax, and $175 million after-tax.

Catastrophe losses occurring in the first quarter of 2018 comprised 11 events at an estimated cost of $357 million, pre-tax, plus unfavourable reserve reestimates of prior reported catastrophe losses.

One wind-driven event, primarily affecting Mid-Atlantic and Northeast states, accounted for over 55 percent of the catastrophe losses for the month of March.

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More of today's news

AIG splits Europe business between UK, Luxembourg ahead of Brexit

Ardonagh grows 2017 income by 11% through acquisitions

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